1. Summarize eight stages of newproduct development process. (6-10 lines)

Major Stages in New-Product Development Marketing strategy Business analysis Concept development Product and testing development Idea Test screening marketing Idea Commercial- generation izationProduct Life-Cycle Strategies for new products 1. Product development 5. Decline 0 Sales are zero and investment costs mount. 2. Introduction - Slow sales growth and profits 3...... are nonexistent. 3. Growth ' Rapid market acceptance and increasing profits. 4. Maturity ' Slowdown in sales growth and profits level off or decline. ' Sales fall off and profits drop. Typology of services Source: Adapted from Johnston, R. and Clark, G. (2005) Service Operations Management, 2nd edn, Prentice Hall, Pearson Education Limited, Harlow. Business-to- Business-to- Consumer Internal firm Public Not-for-profit business business services services services services services services (traditional) (KIBS) Description Services Specialist Services Services Services Services provided services provided to provided by provided by provided for businesses provided to individuals internal local and by charities businesses functions national government Examples Accountancy Management Shops Finance Health Hospices Legal advice consultancy Hotels Personnel Education Counselling Training IT consultancy Banking IT Leisure Aid agencies Customers Frequently Frequently Health and Consumers of Prisons Funded through purchased by purchased by beauty the service Funded charities, maybe professionals, professionals, Purchased by have no choice Purchased by government grants; who may not who may not consumer of of provider consumer of consumers chosen be end users be end users the service the service or choose Challenges Providing Providing Providing Delivering Delivering Balancing needs high-quality high-quality a consistent customised, acceptable of volunteers, tailored and services to service to a personal public services donors and personal businesses wide variety of service, and against a overwhelming service that have high customers demonstrating backcloth of needs of purchasing value for political customers power money pressures